Suppose you buy a CD for $500 that earns 3% APR and is compounded quarterly. The CD matures in 3 years. Assume that if funds are withdrawn before the CD matures, the early withdrawal fee is 3 months' interest. What is the early withdrawal fee on this account?

  $3.75

Step-by-step explanation:

I = Prt

I = $500·0.03·(3/12) = $3.75

The early-withdrawal fee is $3.75 for the first quarter.

Each quarter after that, the principal amount will be larger, so the interest penalty will be larger. The fee would be the amount of interest that would be credited at the end of the next quarter, or at the end of the quarter currently in progress.

see explanation

step-by-step explanation:

since the sequence is geometric there is a common ratio r between consecutive terms, that is

r = 4 ÷ - 2 = - 2

r = - 8 ÷ 4 = - 2

r = 16 ÷ 8 = - 2

the next term - 13 must be incorrect as it should be - 32 for the sequence to be geometric.

the first 4 terms are therefore geometric with common ratio r = - 2

an

y = 6x -3y -12

y +3y +12 = 6x

=> . x = { 2y / 3 +2 } this is equation of line in terms of x

=> . if line meets the x-axis the co-ordinates of meeting point would be ( x , 0 )

=> . x = 2 ( 0 ) / 3 + 2

=> . x = 2

so, the point is ( 2 , 0 )